Commercial electric vehicle company, EKA, a subsidiary of Pinnacle Industries, on Saturday unveiled its first electric bus E9. Sudhir Mehta, chairman of EKA and Pinnacle Industries, said the company was talking to investors to raise `500 crore for the bus project. Pinnacle Industries has got approval to launch electric vehicle manufacturing under the production-linked incentives scheme and has committed to invest Rs 2,000 crore to set up EV manufacturing unit. Pinnacle has also received approval under the EV component manufacturing scheme of the government’s PLI policy.
Publication: Financial Express (Click here to read the full article)